ULTRA LITHIUM INC.

Suite 507 - 700 West Pender Street

Vancouver, British Columbia

V6C 1G8

ULTRA LITHIUM ACQUIRES ADDITIONAL EXPLORATION LICENSE IN SERBIA

JANUARY17, 2012                                                                                              TSX-V: ULI                                                                                                                                                                       Vancouver, B.C., January 17, 2012 - Ultra Lithium (TSX-V: ULI) ("the Company" or "Ultra") is pleased to announce that it has been granted one (1) additional lithium/boron exploration license (prospects) in the Republic of Serbia, through its wholly-owned subsidiary, Ultra Balkans doo, for the Blace mineral prospect, by the Ministry of Environment, Mining and Spatial Planning. The successful exploration license application covers an area of approximately 99 square km.  

With the grant of this additional exploration license, Ultra currently holds a total of seven   

(7) exploration licenses that cover approximately 643 square km of prospective stratigraphy. All prospects have the potential to host significant lithium and boron bearing Jaderite mineralization that forms within fine-grained, well-layered lacustrine sediments of Tertiary age.

In terms of progress, we would like to inform our shareholders of the following developments:

We have opened our office in Belgrade and have hired local geological staff. We have also begun compiling government regional geophysical data and completed field reconnaissance.

Our next step will be to assess and review data as well as initiate magnetotelluric surveys on our concessions. Further updates will follow.

Please visit the Company's website (www.ultralithium.com) to view the location maps of our mineral prospects.  

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed on behalf of the Company by Mr. Phu Van Bui, P.Geo, an Independent Director and Qualified Person under NI 43-101.

Ultra Lithium Inc. is a Canadian junior mining & exploration company with focus in lithium and rare earth metals.  

On behalf of the Board,

ULTRA LITHIUM INC.

Marc Morin

CEO

For more information contact the Company at:

Telephone: (604) 669-9788 Facsimile: (604) 669-9768

ir@ultralithium.com

www.ultralithium.com